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Nigerian oil union rejects sale of oil giant's assets

Xinhua, November 15, 2016 Adjust font size:

Nigeria's National Union of Petroleum and Natural Gas Workers (NUPENG) said on Tuesday it will not support the sale of the state-run oil giant's assets without proper consultation with labor unions in the petroleum sector.

There is no way the unions will open their eyes and allow these assets to be sold without proper consultation, Tokunbo Korodo, the Union's Southwest Chairman told reporters in Lagos.

Oil workers in the West African country had on Nov. 13 declared that they would reject any attempt by the government to sell some of its stakes in the state-run Nigerian National Petroleum Corporation (NNPC).

The reaction came as the Nigerian government recently made known its plan to sell some national assets to augment revenue shortfall.

The Federal Ministry of Petroleum Resources released a draft policy document on the reform of the oil sector on Nov. 10, which proposed the sale of some of its stake in the national oil firm.

"We are against any sale of the nation's assets because there is no justification for it," he added.

"They are planning to sell them to their cronies like they did in power sector," he said.

"We cannot continue to watch until they sell the whole nation," Korodo told reporters.

According to him, the government needs to resolve labor issues before selling any assets. Endit